- On November 21, 2024, the Department of Finance announced a temporary GST/HST tax break for Canadians from December 14, 2024, to February 15, 2025
- The legislation for the tax break was quickly passed through the House and is progressing through the Senate
- A proposed $250 rebate cheque was not included in the tax break bill and requires separate approval due to low support
- The tax break aims to provide relief by zero-rating sales of specific items during the holiday season
- Tax relief applies in Harmonized provinces including Ontario, Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland and Labrador
- Quebec will not offer corresponding QST relief as indicated on November 29, 2024
- No announcements from British Columbia, Saskatchewan, and Manitoba regarding provincial sales tax relief as of December 2, 2024
- Qualifying items include childrens clothing and footwear, childrens diapers, car seats, toys, jigsaw puzzles, video game consoles and accessories, printed books and newspapers, audio books, Christmas and decorative trees, and most food and beverages
- Items must be paid in full from December 14, 2024, to February 15, 2025, to qualify for tax relief
- Deposits on items before December 14, 2024, qualify if the remaining amount is paid within the specified period
Source: bakertilly.ca
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
